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Litecoin price analysis: LTC to retest $107.2 resistance before a new uptrend

Litecoin price analysis: LTC recovers to $56 as bulls carry on their lead

TL;DR Breakdown

  • Litecoin price analysis is bullish today.
  • Resistance for LTC/USD is present at $107.2.
  • Support for LTC is present at $100.6.

The Litecoin price analysis reveals the coin is in bullish mode today. The price breakup was downwards at the start, but bulls took over and covered a good range by moving the price function upwards to $103 from $99.4. overall during the last week, the LTC/USD pair price managed to float above the $100 psychological mark with a few dips below into the $90 range. The price trend line for this specific period of time is slightly downwards, but a zigzag price pattern has been observed. However, the current price action is in favor of bulls.

LTC/USD 1-day price chart: Bulls capture the market

The 1-day Litecoin price analysis shows a bullish momentum is on the go, and a further price increase is expected in the coming hours as bulls continue their rally. At the moment, the price has been on the rise after correcting at the start and has moved up to $103 at the time of writing, gaining 1.11 percent value during the last 24 hours. Still, there seems to be quite much leeway for the LTC bulls to occupy if the market sentiment remains positive.

Litecoin price analysis: LTC to retest $107.2 resistance before a new uptrend 1
LTC/USD 1-day price chart. Source: Trading view

The volatility is also decreasing as the Bollinger bands continue to converge, with the upper band at $114.6 and the lower band at $97.2, making an average of $105.9 above the price level. The moving average (MA) is at the $103.3 mark, also above the price. The relative strength index (RSI) is in the neutral range at index 43 with a slight upwards curve.

Litecoin price analysis: Recent developments and further technical indications

The 4-hour Litecoin price analysis shows bulls are marching towards the resistance mark of $107.2 as a green candlestick has appeared on the chart, indicating bullish progress. The LTC bulls are successfully moving ahead right now, after going through defeat at the start of the trading session, as the price function remained downwards for the first four hours today.

Litecoin price analysis: LTC to retest $107.2 resistance before a new uptrend 2
LTC/USD 4-hours price chart. Source: Trading view

The volatility is comparatively less than the last few days on the 4-hour chart, which is a good indication for the time being. The upper end of Bollinger bands is at the $108.6 mark, and the lower band is at the $97.7 mark.

The average of Bollinger bands is coming close to the value of $103.1, just above the price level. The moving average (MA) is at the $102.9 mark below the price level. The relative strength index (RSI) is moving near the center of the neutral zone with much more room for bullish practice and shows a number of 49.

Litecoin price analysis conclusion

The Litecoin price analysis is bullish for today. The price is still moving higher, and if LTC crosses the resistance mark, it can be predicted that it will go higher. We expect LTC to correct once more near the resistance of $107 before continuing further high later today.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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